Hello
My PIA at age 66 was $1211( 11/19). I am taking spousal benefits until 11/23 when I turn 70. The SS site I viewed before I took spousal stated at age 70 my payment is $1,641. Does this include 32% DRC's? I thought COLA's were added first to PIA and then the 32% DRC's are added to get your age 70 payment. Please clarify. Thanks so much.

Hi. I can't answer for the accuracy of the the benefit rate estimates you receive on Social Security's website. Here's what I can tell you. A person's primary insurance amount (PIA) is adjusted to include all Social Security cost of living (COLA) increases that occur after they turn age 62. And, if your full retirement age (FRA) is 66 and if you are insured for Social Security retirement benefits at that time, then if you wait until age 70 to claim your Social Security retirement benefits your retirement benefit rate will be 32% higher than your PIA. Therefore, if you were born in 1953 and if you had at least 40 quarters (QC) of Social Security coverage when you turned age 66, if you wait until age 70 to start drawing your retirement benefits your retirement benefit rate will be 32% higher than the amount of your PIA at the time you turn age 70.

Best, Jerry